Stick to a Safe Plan for Short-Term Investing
Rick is in the Army and deploying to Iraq next week. What type of short-term investments could he make while he’s gone?
QUESTION: Rick in Savannah is in the Army and deploying to Iraq next week. He’ll be making a lot more money with a lot less expenses. What type of short-term investments could he make while he’s gone? Dave points out the military option to save money at 10% interest, and it’s tax-free.
ANSWER: If I understand it right, there is a military option for you to save money at 10% interest. I think that’s a pretty safe deal. It’s a standardized process. I would put that money in the 10% deal. It’s going to be tax-free because you’re in a combat zone. You’re going to make more on your money that way than you are in any kind of an investment. I don’t disagree with you that the Army can mess up paperwork. It’s like a known deal. But I don’t think the 10% account will be that big of a deal.